XOM was badly beaten due to Covid-19 and when they got removed from the index.
However with positive Covid-19 Vaccine, XOM big market Cap player shall not be forget.
A stable support seem to be form at the price of $30-$32.
Long playout -
Long after breakout
Long when pullback close to $34
SL @ $30 to prevent from whipsaw.
Overall - Down trend.
However, market is forward looking. If investors believed in Biden Covid taskforce, they might enter into travel/leisure counters.
Break above the descending triangle will show bullish sign.
Winter season = End of Year = Holiday Season = Gathering period = No Social distancing
Now that it’s mid-October, the next big worry on health officials’ minds is the holiday season. Of course the concern here is that larger family gatherings could potentially lead to bigger outbreaks,
especially in parts of the country where there are higher levels of COVID-19...